GEN COMBO COLLEGE ACCOUNTING; CONNECT ACCESS CARD
GEN COMBO COLLEGE ACCOUNTING; CONNECT ACCESS CARD
4th Edition
ISBN: 9781260087376
Author: M. David Haddock Jr. Professor
Publisher: McGraw-Hill Education
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Chapter 9, Problem 1PA

Journalizing cash receipts, cash short or over, and posting to the general ledger.

Royal Jewels, a retail business, started business on June 25, 2019. It keeps a $300 change fund in its cash register. The cash receipts for the period from June 25 to June 30, 2019 are below.

INSTRUCTIONS

  1. 1. Open the general ledger account for Cash Short or Over, account number 620.
  2. 2. Record the cash receipts from June 25 to June 30, 2019, in a general journal. Start the general journal with page 1.
  3. 3. Post the amounts for cash short or over in the journal entries to the general ledger.

Chapter 9, Problem 1PA, Journalizing cash receipts, cash short or over, and posting to the general ledger. Royal Jewels, a

Analyze: How will the balance in Cash Short or Over on June 30 be reported in the financial statements?

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